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. heather: good thing. all right so growing concerns for the future of u.s. cities as stoc stockton, california heads to bankruptcy court. they racked up a billion dollars in debt in two years. we hear about other places in similar situation. some are wondering whether other u.s. cities will soon follow. matt mccall is president of financial group l. l. c. and countdown to the closing bell on fox network. california's 13th largest city officially heading to bankruptcy court today. a city in detroit trying to avoid the same thing, the largest city ever to be put under state control. if i live in a small town say in mississippi, i live in a farming community out in midwest or here in the big city of new york city, why do i care, how does it effect me, liz? >> it is interesting if you are part of a municipality that is in debt. when it comes to the clip that happened here situation probably unlikely unless your city finances are in such arrears and a dire state that you too should be watching. everyone can learn a lesson with what is happening in stockton, california today. heather: ta
cities. stockton, that's the california city, flat-out bankrupt. it begins the bankruptcy journey in court today. everybody is watching. will the judge roll back city pensions and if he does, what about other california cities and town. same question for detroit, it's not technically bankrupt, but it's totally insolvent. kevyn orr runs the city and what will he do with a city with unpayable debts. everybody is watching that one. in some, some are improving, but not stockton and not detroit. ♪ >> we just outlined two american cities on the verge of or actually in bankruptcy. now how about an entire country on the verge of a flat-out depression. that's what cyprus faces, a bailout plan has been approved. bank accounts over 100,000 euros will be taxed. the russian mob losing. angela merkel, the germans winning. i'm going to call it catastrophe for the people of cyprus which is where we find rich edson. and rich, set the scene. i'm hearing that it's not chaos, it's not misery, they're actually having a party. it's a holiday today. go. >> it is a party, stuart. it is europe. the caf
idea like tracie or stockton would be a better place to have veteran housing but why not here. >> the plan for veteran housing is a long way from becoming a reality. heaton must get to the owners of the land, convince them to sell it and the city to build housing. >>> this will break your heart. a few months after he beat lymphoma, a 6-year-old boy is fighting for his life again against leukemia. he needs a bone marrow transplant to save his life. the leukemia is aggressive and chemotherapy will not cure it. the family has been told there are not many people of hispanic descent in the current database. finding a match will be extremely challenging. eduardo's classmates and teachers are spreading the word about finding a bone marrow match. the family hopes their son's story will inspire others to answer the call. >> i'm really convinced we can find it and save him and do whatever we need to do to convince the people to do the test. >> a bone marrow drive for eduardo will happen at river glen school next friday march 29th. it will start at 2:30 in the afternoon and end at 7:00.
, stockton is poised to become the most populous in the nation to enter bankruptcy when its trial begins tomorrow in federal court. creditors who lent stockton money are challenging its chapter 9 bankruptcy petition, but most observers say the city of 300,000 will be successful. its largest creditors are bond insurers who helped the city refinance pension debt. >> we are seeing changes with the wind coming off the ocean and increase with clouds.hall signs of changes. even wet weather. temperatures are cooling to 50 degrees in san francisco fairfield, brentwood. low clouds coming off the ocean. tomorrow you will see gray skies but as we go for the afternoon some high clouds with clouds and gusting winds will be expected. and on the in income if chance for rainfall. new york's coney island is now open for business. today senator chuck schumer the start of the park's season. coney island opens the week before easter every year. but this year a lot of work had to be done to the electrical system that was damaged during superstorm sandy. officials say that today's celebrations serve as a remi
and is headed to stockton and interstate 5. we have some moving through the higher elevations of marin county and the sonoma county and this is headed over to petaluma and novato and san rafael, your wear will get wet again in the next 20 minutes. you can see the rain coming from 680, on martinez and headed out four from concord and bay point but not so heavy as it was before. and drifts are developing around san mateo south of san bruno and belmont and redwood city and all the way to palo alto, you could get pore light rain the next half hour. we are going to be wet at times around the bay and it will move to the south at noon and the drying will begin in the afternoon. the best chance of rain had morning is moving into the east bay valley after the morning commute and you will be fairly dry headed through the evening hour and the north bay coast is getting the rain this morning and it will be steady as you head to noon and in the afternoon, you will also see it tapering. >> we have serious situation in the santa rosa area and ongoing all morning with slick roads the problem. south 101 beyon
and is going to help them win elections. >> i don't remember if you remember the stockton, he brought ted nugent to the -- >> yeah. >> krystal, he tweeted out, the best thing about the earth is if you put holes in it, oil and gas come out. how is that for kinder and gentler? he actually tweeted this. >> and that's part of the problem. if you have any concern about the environment, if if you have any concern about climate change, are you going to look to someone that's a party that's saying things like that? that's not offering any solutions and i think that's part of the problem. cap and trade, which has been thoroughly demonized, that was a conservative idea. that's a market-based approach to dealing with climate change. democrats have adopted some of these goods, market-based things that they used to do. if they are going to be an effective party and opposition, they have to offer nuance responses. it's worked for them a while but now that well has run dry, so to speak. >> and i think joan made a very good point. usually they take an autopsy after you've been pronounced dead. they don't
he could be charged later. >>> both singer michelle stockton apologizing after using a gay slur during a performance in san francisco. she says her comments about gay people and gay marriage were misinterpreted. she says she does not judge gay people and was simply trying to point out how some people feel with the issue. venues all across the country have canceled most of the singer's upcoming performances as a result of her comments. >>> 5:21. america's cop rocking out. details on the concert series that comes with the race. >>> a live look at the bay bridge in san francisco. it is a lovely site early in the morning. the night dancing with the lights. stick around. "today in the bay" rollsen o. >>> welcome back on a friday eve, also known as thursday. this is a live look over san francisco's international airport as traffic starts to slowly fill up out there on the rhodes. mike inouye will be along to tell you what's happening with that. christina loren has your weather forecast. it is 5:23. >>> contra costa county's oldest working police dog retiring tonight. dar has been patr
. control towers in napa, concord, livermore, stockton and santa rosa are on the list of possible closuresment >>> public reaction mixed for the changes proposed to yosemite park. >> we got rid of all this, now, lelts get rid of all the vendors once and for all. >> this is the path forward. >> those are the people showing up at a national park service meeting to express their feeling on the plan to stop bike and raft rentals at the park as well as horseback riding. environmentalists also want to get rid of the ice rink at curry village, swimming pools at the yosemite lodge and owana hotel and art activity center. they say it is important to restore the natural setting and protect the merced river. the proposed changes coming after some decades of back and forth lawsuits between environment. tallis ta and the park. >>> runners trying to get limber for this weekend in oakland, the city's annual running festival. the fourth year for this event which includes a 5k half marathon and a full marathon. 26 bands and d.j.s signed up to cheer on the runners with music and fine tunes. the rac
, stockton and santa rosa are all on the list of possible closures. >>> it is not great but it is going to have to do for now. another band-aid and short-term fix for the national budget. the house voting to keep the government running. that's good news. it keeps in place $85 billion in spending cuts to the pentagon and domestic programs. that means temporary furlough for hundreds of thousands of government workers will stay in place. the spending authorization is on the way now to the white house waiting for the president's signature. >> the u.s. supreme court is getting set to take on the issue of gay marriage. speaking out across the nation including right here in the bay area. christie smith joins us live where a 12-year-old wants the court to hear what he has so say. good morning, christie. >> reporter: two historic cases on gay marriage set to go before the supreme court. a 12-year-old bay area boy has stepped in the mix. he wrote a letter to the chief justice john roberts about his own family. he was adopted by two dads. the la few family lives in santa rosa. 12-year-old daniel t
week the library of congress selected it along with 23 other recordings for preservation. >>> stockton is said to become the most popular city in the nation to enter bankruptcy when its trial begins tomorrow. creditors who have lent the city money are challenging its chapter 9 bankruptcy petition. creditors plan to argue that the city has not done enough to cut spending. >>> a mock plane crash here in the bay area was designed to help specially trained dogs sharpen their search skills. crews with their dogs took part in this training in the shell ridge open space in walnut creek. the goal was to train volunteers for a real-life emergency. >> the dog handlers, their crews would come out, locate the casualties, and then provide treatment and ultimately evacuation. organize wears the california search and rescue dog association say rescuers don't usually see this type of situation, and they're hoping that this drill will help them in the future in case the real thing happens, they will be better prepared. >> coming up on 9:24. let's turn to rosemary and see how we're looking. the last cou
people they have to answer to our corporations. david stockton outlined a strategy in the 1980's. evenight wing noted that through republican presidents like eisenhower and nixon, you could not cut popular programs like social security or medicare. and government grew at a slower rate. they can love with a strategy of starving the bees. -- they came up with a strategy of starving. the starving -- they huge deficits sta up with a strategy of rving the beast. creating huge deficits. republicans deny care about deficit at all -- do not care about deficits at all. what they do care about is cutting government. to quote grover norquist, it can b t in a bath tu [indiscernible] they call it something else but it would destroy both programs. their goal is to destroy government. corporations paid on average 40% of profits for taxes. arey large corporations 12ing about fall% -- about %. they ryan budget would lower that further. millionaires with a $200,000 tax cut -- would get a 200,000 todollar tax curt. t. host: a tweet -- is if you looked at the budget, we have not had in the g
Search Results 0 to 10 of about 11